The Briscoe Law Firm Investigates Advanced Battery Technologies, Inc. On Behalf Of Shareholders For Possible Breaches Of Fiduciary Duties By Its Officers And Directors
Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the securities litigation firm of
Taylor, LLP are...
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the officers and Board of Directors of Advanced Battery Technologies, Inc. (“Advanced Battery”) (NASDAQ: ABAT) during the period of November 24, 2008 through March 30, 2011 (the “Class Period”). It has been alleged in a recently-filed complaint that during the Class Period, Advanced Battery and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Advanced Battery’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that the defendants failed to disclose: (i) that Advanced Battery had failed to maintain proper internal controls; (ii) that ABAT’s claimed distribution relationships with certain manufacturers of electric motorcycles and scooters reported to investors appeared to be false; (iii) that the company reported financial statements that were grossly inflated by including gross profit margins which were unrealistic for similar companies in its industry; and (iv) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the company and its prospects. If you currently own or purchased Advance Battery/ABAT shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Shares of Advanced Battery Technologies (Nasdaq:ABAT) have taken a tremendous swing upward. The stock is trading at $1.55 as of three p.m. ET, 20.2% above Friday's closing price of $1.29. Volume is at 3.1 million, 1.2 times the daily average of 2.6 million.